MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Cuts Holdings in TeraWulf Inc. (NASDAQ:WULF)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 59.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,427,093 shares of the company's stock after selling 2,125,896 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.37% of TeraWulf worth $8,074,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Driehaus Capital Management LLC boosted its position in shares of TeraWulf by 3.4% in the 4th quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company's stock valued at $72,070,000 after purchasing an additional 412,877 shares during the period. Geode Capital Management LLC boosted its position in shares of TeraWulf by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company's stock valued at $43,232,000 after purchasing an additional 453,429 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of TeraWulf by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company's stock valued at $30,387,000 after purchasing an additional 955,795 shares during the period. Van ECK Associates Corp boosted its position in shares of TeraWulf by 74.2% in the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company's stock valued at $26,964,000 after purchasing an additional 2,028,383 shares during the period. Finally, Senator Investment Group LP acquired a new stake in shares of TeraWulf in the 4th quarter valued at about $24,371,000. 62.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JMP Securities assumed coverage on TeraWulf in a research report on Thursday. They issued a "market outperform" rating and a $7.00 target price for the company. Citizens Jmp raised TeraWulf to a "strong-buy" rating and set a $7.00 target price for the company in a research report on Thursday. Jones Trading assumed coverage on TeraWulf in a research report on Monday, March 31st. They issued a "buy" rating and a $4.00 target price for the company. Finally, Rosenblatt Securities decreased their price objective on TeraWulf from $4.50 to $4.00 and set a "buy" rating for the company in a research report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, TeraWulf has an average rating of "Buy" and an average target price of $7.67.

TeraWulf Stock Performance

TeraWulf stock traded down $0.16 during mid-day trading on Friday, reaching $3.93. 42,857,340 shares of the company were exchanged, compared to its average volume of 30,485,423. The firm has a market cap of $1.51 billion, a PE ratio of -11.91 and a beta of 3.00. The firm's 50-day simple moving average is $3.00 and its two-hundred day simple moving average is $4.82. TeraWulf Inc. has a twelve month low of $1.96 and a twelve month high of $9.30.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.09). The business had revenue of $34.41 million for the quarter, compared to analysts' expectations of $45.72 million. TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. TeraWulf's revenue for the quarter was down 18.9% on a year-over-year basis. As a group, equities research analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current year.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.